Check out what on-chain data is showing about XRP. The amount of tokens in loss has just reached levels we haven't seen in quite some time. We're talking about more than 36 billion XRP being held with a loss at the moment.

The most interesting thing is that when you convert this into dollars, it gets even heavier. About 50 billion dollars in negative positions on the blockchain. This is a record in recent years, well above what we had seen before in this cycle. Basically, the capital that entered XRP has grown a lot, and now the pain is concentrated in a much larger number of investors.

The metric that tracks this works like this: it checks the on-chain history of each circulating coin and compares the last transaction price with the current price. If the last time someone moved that token was at a higher price, it counts as a loss. Simple as that.

What draws attention is that usually when investor pain is at its maximum, markets tend to find bottoms. So the question remains: is XRP approaching a floor? Only time will tell.

Oh, and about the price: XRP is trading around $1.44 now, with a slight increase of 0.69% in the last 24 hours. Nothing explosive, but at least it's not falling anymore.